The future of sport and its profound effect on business.
Professor Tim Harcourt addressed the question of whether sports should be taken seriously in terms of the global economy and geopolitics. He highlighted the significant impact of sports on economies and international relations, emphasizing its relevance in today’s interconnected world.
Recent events, such as Dan Andrews canceling the Commonwealth Games, raised concerns about the financial feasibility of mega-events like the Commonwealth Games, Olympics, and FIFA World Cup in the current economic climate. The cost-effectiveness and worthiness of hosting such massive events were brought into question.
Regarding Brisbane’s potential as a host for the 2032 Olympic Games, this prospect was explored. The discussion weighed the advantages and potential challenges associated with hosting the Olympics, considering both economic factors and the city’s preparedness.
In his forthcoming book, “Footynomics,” Professor Tim Harcourt delves into the economics of sports, particularly focusing on the four major football codes in Australia: Aussie Rules, Rugby League, Rugby Union, and Soccer. He highlighted how these diverse options benefit sports-watching consumers but also raised concerns about whether they might overshadow minor sports.
The conversation extended to the Olympic Committee’s concerns about the economic viability of minor or ‘second-tier’ sports, emphasizing the need to balance the support and growth of various sports on a global scale.
In conclusion, the discussion affirmed that sports are undeniably a crucial aspect of the global economy and geopolitics, and careful consideration is required when contemplating hosting mega-events in today’s economic landscape. Balancing the popularity of major sports with the growth and support of minor sports remains a pertinent challenge for both policymakers and sports organisations.
